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A $59 Million Klimt Tops a Landmark Sotheby’s Auction in London

Mar 01, 2017 - The New York Times

An exuberant Gustav Klimt garden scene sold at Sotheby’s on Wednesday night for 48 million pounds (about $59.3 million), with fees, bringing the third-highest price for any artwork sold at auction in Europe.

The painting, with an estimate of at least £35 million, was contested by four telephone bidders, reflecting newly energized demand for works by the great names of 20th-century art.

“This was a momentous night for the art market,” said the auctioneer, Helena Newman, chairwo...